Therefore, the debt is charged off. But the accounting move by the creditor to charge off the balance due in no way affects your obligation to pay what is owed. In the most basic terms, a debt is owed until it is paid. However, state laws provide a statute of limitations for collecting a debt using the courts. The laws vary, but most states do not allow creditors to sue in court to collect on an open-ended account, such as a credit card account, after three to six years.
sorrow meaning, definition, what is sorrow: (a cause of) a feeling of great sadness: . Learn more.
mass noun. 1Intense sorrow, especially caused by someone's death. âshe was overcome with griefâ. âIt is important to seek professional help when you feel overwhelmed by your grief or memories.â. âIf you have lost someone or have been struggling with grief check out the fact sheets below.â. âGrief over a traumatic death does not follow an accepted timeline.â.